Founded on August 30, 1933 through the merger of Air Orient, Compagnie Générale Aéropostale[?], Société Générale de Transport Aérien (SGTA, the first French carrier, founded as Lignes Aériennes Farman in 1919), Air Union and CIDNA (Compagnie Internationale de Navigation). The airline had extensive routes across Europe, but also to French colonies in northern Africa and elsewhere.

The company was nationalized in 1946, Compagnie Nationale Air France was created by an parliamentary act on June 16, 1948. The government held 70% of the new company and still (mid-2002) holds a 54% stake in the airline.